Budget 2017: Rural focus to spur consumption
MUMBAI | NEW DELHI: With an eye on reviving consumption in the hinterland, the finance minister has rolled out several sops for low-income and rural consumers.
The farm credit target has been increased by Rs 1 lakh crore to Rs 10 lakh crore to increase credit flow to the agriculture sector.
Rural growth decelerated to lower single digits last year from the midteens in 2014-15. The total allocation of Rs 1.87 lakh crore for the rural and allied sectors is an increase of 24% over the previous year.
Consumer companies are hopeful that additional money in the hands of people will boost consumption and revive demand. Rural markets have nearly 64% of all retail stores but account for just a third of fast-moving consumer goods (FMCG) sales in the country, according to Nielsen.
A reduction in the tax liability of those with an income below Rs 5 lakh will also help to boost non-urban demand. “The tax incentive should improve penetration and consumption of affordable, small unit packs,” said Vivek Gambhir, managing director, Godrej Consumer ProductsBSE -1.57 %.
Source: ECONOMIC TIMES
Soil science is a specialized branch of agriculture which associated with the different areas of soil…
In an instrumentation and Process control system, data is acquired by measuring instruments and transmitted…
Dairy Cattle Nutrition and Reproduction is Improving energy balance by increasing energy intake through additional…
Human nutrition is the process by which substances in food are transformed into body tissues and…
B.Tech (Dairy Technology) The course ware material is prepared as per ICAR approved syllabus for…
At present the Fundamentals of horticulture may be defined as the science and technique of…
Download our App
Download Now